On September 15, 2010 BOJ (Bank of Japan) intervened in the Forex market for the first time in 6 years…

Now, this video is a rough dramatization of happened in the currency market…  Watch the lady at 0:47 as she flew into a pole and fainted.  I am sure traders around the world were experiencing the EXACT same thing, metaphorically…

Now catch your breath and turn your focus to the Forex market just for a second:  Contrary to popular belief,  BOJ intervention is not as sudden as some people may think.  As a matter of fact, BOJ has been very verbal about intervening for the past two weeks, but most speculators were just so convinced that buying Yen is the answer, they ended up getting caught with hands in the cookie jar.

But if you were part of my 10kto1mm program or Mastermind Mentoring students, you’ve probably heard me talking about BOJ intervention in the past few weeks for over 100 times by now, and not only we didn’t lose any money, we actually booked a very nice gain (500+ pips) from this event and brought our account up…  This is exactly the type of event that we will never get caught on the wrong side because of our focus on Fundamental analysis.

Below shows our entry at 128.06 and market soared up to 134.00 giving up 600 pips of profit.  We are still in this trade, by the way.

I hope you enjoy this update.  We are moving along quite well now in our 10kto1mm program, and I think if we keep up with our current progress, we will complete phase I in just a couple of weeks…

Thank you and I’ll post more updates in the future.

Henry 



I get asked this question a lot, what is my Mastermind Mentoring Program all about?

I think I can sum it up in two words, “precision trading”… 

Let me explain…

You can probably classify trading into 3 different categories… First, you have the long-term trading where trades are held for days or even weeks.  Second, you have the scalp trading where you get in and out of the market in a matter of minutes.  Third, you have precision trading, where you wait for a setup to get in and out within the first few hours, but usually always in the same day.  Long Term trading appeals to investors who use lower leverages and focus on the long term outlook of the market, and the gains per trade could range from 100 to 1000 pips. Scalp traders are mostly traders who focus on probability and discipline.  Scalp traders usually targets 1 to 10 pips of gain per trade and it always comes down to the number game.  Scalpers are the type of traders who feel that you have to work hard for a living…  I personally know a scalper who take 20~ 40 trades a day, 14 hours a day, 5 days a week… 

Precision Trading on the other hand, is a completely different game, and it is probably the most popular type of trading as most traders don’t have the patience (or account balance) to wait for weeks, nor the discipline (or time) to scalp trade.  And my Mastermind Mentoring Program is all about precision trading where we focus on short term opportunities with laser-like precisions.  There is no need to trade around the clock like a scalper, nor risk huge drawdowns like a long-term fundamental trader… it is all about precision, where we wait for the market to come to us, enter the trade, and cash out…  Very much like what Roger Federer did in this video…

Mastermind Mentoring is all about reading the market, finding high probability setups, and only execute the trade when the timing is right.  It is a combination of fundamental analysis, technical analysis, market cycle, and market psychology…    Read my Mastermind Mentoring Page for more information…

-Henry Liu



Man’s Best Friend – NOT!

Post image for Man’s Best Friend – NOT!

by henryliuforex on August 25, 2010 · 12 comments

Interestingly enough, your subconscious is agreeing with Fido, every time you take a trade…

Let me explain.

Everyone who has been trading Forex for a while knows the golden rule, and that is to cut your losses short and let your profits run.  But a quick review on a typical retail Forex trader’s account, you will probably find tons of small profits followed by huge losses… Sometimes the losses are so big they wipe out weeks of profit or even a good portion of the starting balance…   This problem is not only isolated to novice traders, because if you’ve been following the news lately, you’d heard of scandals on billion dollar of losses from some of the most prominent financial institutions’ “foreign exchange trading desk”… 

I guess to fully understand this problem that every trader is facing, we must understand human nature, and it is best illustrated by examples of Positive and Negative framing…

Let’s say that you are guaranteed to win $4000 right now and you are given a chance to win $1000 more ($5,000 total) with 80% of odds of winning.  If you win, you’d go home with $5000, but if you lose, you’ll end up with nothing, not even with the $4000 you started with.  So the choice is yours, take $4000 now or take a chance at $5000 with a 20% of possibility of leaving with nothing. What would you do?

80% of people will choose the $4000 and not the gambling scenario.  But let’s change the situation around and see what you’d do:

You are guaranteed a loss of $4000 right now and you are given a chance to lose more (80% probability) and end up with $5000 of loss, but there is a 20% of chance you will come out breaking even, or not losing anything.  The choice is exactly the same as the previous example, but the situation is reversed…  $4000 loss right now or $5000 possible loss in the gambling scenario with a small chance of breaking even, what would you choose now?

Interestingly enough, 80% of people would choose the gambling scenario, even though both examples are exactly the same in nature.  If this question was posed to a computer, or Artificial Intelligence, we should get exactlythe same answer, because 80% odds in the gambling scenario pretty much makes it the right choice in Example 1 and the wrong choice in Example 2.  But strangely,  80% of us normal Forex traders will always choose the WRONG answer, every time.

It all comes down to this one thing, and that is the pain or losing outweighs the pleasure of winning.  If you find a $20 bill on the ground, you’d probably not frame it on the wall, but you’d spend it without thinking twice.  But if Bob owes you $20, you’d probably remember that forever, and that’s human nature…  So when it comes to trading, one’d rather take the gambling scenario and let the losses run because there is that fairy tale kind of chance for the market to turn around, or to delay the pain of losing… but more often than not, you’ll end up losing more…

Understanding your own mindset is important, and the next time you find yourself thinking about the gambling scenario, do yourself a favor and cut your losses short, because it only takes one huge loss to undo what you’ve worked for so long…

-Henry Liu



Power Of Compounding… Shazaam!

Post image for Power Of Compounding… Shazaam!

by henryliuforex on August 23, 2010 · 2 comments

One Million dollar now or one Penny today but doubling it in the next 29 days?

90% of people will probably end up choosing the One Million Dollar payout.  But if you look at the chart to the right, you’ll see by the end of 29 days (counting day one at penny one), the penny option actually ended up over 5 million dollars!  Of course, doubling your account on a daily basis is next to impossible, but the power of compounding would work even at a modest return of 1% per month or more.  And if you really stop and think about it, the real question is not how much return, but for how long.

Here’s what a leading financial publication has to say about compounding and investment:

1. The sooner you start, the better. Compounding is a function of the return you get and time. For most people a 3 to 7 percent is realistic, but time is a diminishing commodity. So the younger you are, the more time you have to really make compounding work for you, and the wealthier you can become. The next best thing to starting early is starting now. Consider this example: Amy, a 22-year-old university graduate, saves $300 per month into an account earning 10% per year for 6 years. Then at age 28, she starts a family and decides to stay home with the children full time. By then, Amy had kicked in $21,600 of her own money. But even if she doesn’t contribute another cent ever, her money would grow to a million bucks by the time she turned 65

2. Make regular investments – especially via a tax advantaged 401K or IRA plan or in a good high yield savings account for your post-tax savings. Remain disciplined, and make saving a priority. The more you save, the more you can let compounding work its magic. Even a little bit goes a long way, and you can start with as little as $20 a month.

3. Be patient. Compounding only works if you allow your investment (capital) to grow. It takes time to see the wonders of compounding returns, and as you can see in the penny table the most growth comes at the very end. Compounding creates a snowball of money and you will get rich if you start young, invest wisely and leave your money alone over the long term.

It doesn’t really take a genius to take advantage of the power of compounding, but it does take planning, and of course the sooner you start on this journey, the bigger your final payout is going to be… 

My 10kTO1MM Formula is based on the same exact principles. 

  1. Starting with a $10,000 account and by leveraging on the power of compounding, we are looking to turn it into 1 Million in under 12 months.
  2. Break down our goals in 12 phases while we patiently wait for the market to “come” to us…
  3. Money Management is a key component which keeps our investment safe and limit our risks to the downside.  This essentially adds a safety net to trading…

If you are interested in finding out more about the 10Kto1MM trading formula, please watch the Intro Video.



One Million Dollar Long Shot…

The 1 Million Dollar Long Shot

by henryliuforex on August 22, 2010 · 4 comments

I saw this video one late night this week looking at the market for trading opportunities…  (yes, I watch youtube when the market is dead)

I couldn’t help but see the similarity to my 10Kto1MM program…

In this video, you’ll see a bunch of pro-golfers trying to hit a gong 200 yards away on a post just on the water… It’s difficult because the gong is so close to the water, you need to bounce off your shot on water to hit it, it’s called a skimming shot.

One by one they each lined up to try, a few even missed the lake all together… But once they got a hang of it, every single one of them gets closer and closer, until the inevitable happens.

The GONG was hit!

This is exactly what is likely to happen with my 10Kto1MM program. We’ll get to our ultimate goal because I’ve not only gotten a “hang of it” for years, but I’ve seen amazing results (from myself and my Mastermind Mentoring Students) throughout the years…

Of course I don’t expect to “hit the gong” on first try, but that’s where Money Management comes in…  Like I said in the intro video, in order to achieve our goal, we  need:

  • Let Winning Trades Run
  • Money Management
  • Compounding
  • Baby Steps…

As long as we follow this plan, I believe we’ll get there.

Henry Liu



2nd chance registration is now closed…

10Kto1MM August 22, 2010

SPECIAL NOTE:  Thank you your interest in my 10Kto1mm program.  Registration is officially closed until the next launch. I’ll now concentrate 100% to trading.   – Henry After 7 days of nonstop working around the clock (16+ hours a day), I’ve finally sorted out all of the duplicate orders, handled a few cancellations from members who [...]

Read the full article →

Fact Or Fiction: Turning $10,000 into One Million?

http://www.10kto1mm.com/launch/wp-content/uploads/2010/08/mademoney.jpg August 21, 2010

Let’s take a minute and answer this one simple question:  “is it really possible to turn $10,000 into 1 million in under 12 months?”  Well, I guess anyone can say: “Yeah it’s possible”, but so is winning the lottery.  I don’t want you to get the wrong idea here and think that 10Kto1MM is just another hype, [...]

Read the full article →

I was wrong, but I made 60 pips…

Thumbnail image for I was wrong, but I made 60 pips… August 21, 2010

I was wrong at predicting the long-term direction of the market, but because of the formula and money management, I still ended up making 60+ pips… This goes to show that if you follow a system, even if you are wrong, you can still be profitable!

Read the full article →
 

 

 

 

 

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CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

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Trading Forex on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade the foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite.  Past performances are not indicative of future results, which can vary due to market volatility. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.


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